February 12, 2025 • 42 mins
Natural disasters like hurricanes, floods and wildfires underscore the importance of protecting your valuables. Many may not realize the value of what they have or be properly insured. Learn what documentation you need for insurance, how to store your valuables and how to work with a certified jewelry appraiser. Melanie Young discusses with Ed O’Brien, an appraiser for 30+ years who is certified by the Gemological Institute of America (GIA) in Diamonds and Colored Stones. www.objewelers.com
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Fearless Fabulous You is broadcast live Wednesdays at 12 Noon ET on W4WN Radio - Women 4 Women Network (www.w4wn.com) part of Talk 4 Radio (www.talk4radio.com) on the Talk 4 Media Network (www.talk4media.com).
Fearless Fabulous You Podcast is also available on Talk 4 Media (www.talk4media.com), Talk 4 Podcasting (www.talk4podcasting.com), iHeartRadio, Amazon Music, Pandora, Spotify, Audible, and over 100 other podcast outlets.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:18):
Welcome to Fearless Fabulous You. I am your host, Melanie Young,
and I like to empower women like you to make
confident choices about how they choose to live and how
they choose to take care of themselves and their loved ones.
And we're going to talk about something that's topical for
so many reasons and something many of us don't think about,
(00:40):
which is protecting your valuables. We know how we want
to protect our health and our loved ones, but what
about your possessions and your valuables. And why this comes
to light so much now is that my heart simply
breaks when I hear the stories about the so many
people who have lost everything in the California wildf fires,
including family photos and memento. I was, in fact, the
(01:00):
most number one thing they talk about is losing photos
and important family mementos. There are also personal effects and
of course valuable things like art and jewelry and your silver,
and things that are often not replaceable or could be replaceable,
but you may not have the proper documentation in place
(01:22):
to make that happen. So I live in New Orleans.
It's a high hurricane zone, and I moved here in
twenty twenty four. Before that, I lived in New York
City and had two apartments, both of which were burglarized.
I actually tell people I became an official New Yorker
when I was burglarized burglarized, and I learned to have
(01:43):
like six locks on my door. What I learned from
the experience when I had Renter's insurance, because I'm big
on getting everything insured, is that I was not sufficiently
insured for my grandmother's jewelry, which I inherited, which broke
my heart because I learned from the experience that I
had not had a jewelry schedule which would have enabled
(02:05):
me to claim my insurance properly. And that really stung
and it stay with me for the rest of my
life and wherever I've lived. Whenever I have acquired a
piece of jewelry, the first thing I do is I
would get into a praiser to make sure I had
all the necessary documentation. The sad thing about the wildfires
is everybody lost everything, including their documentation. And I read
(02:26):
and heard that if your items are in a bank
vault and a safe, it doesn't mean they're covered by
the FDIC. Cringe because I used to keep all my
jewelry in a safety deposit box thinking that that was
okay and I could take it off my insurance. It's complicated,
and boy, the insurance companies are making even more so.
(02:48):
But here's the thing. If you love and value something,
protect it, keep documentation in safe place, floodproof, and have
up to date appraisers. It's so important, but we don't
think about that sometimes when we worry about the cost.
(03:09):
So we're going to talk about that today so that
you can decide what makes sense for you to protect
your beautiful things so you can pass them on to
the people you love. And so we're going to be
talking with today on Fearless, Fabulous You. Ed O'Brien he
is a certified appraiser for more than thirty years. He
trained with a Gemological Institute of America, the GIA and
(03:32):
Diamonds and Colored Stones. It's a comprehensive education to ensure
that every appraisal conducted by Ed is performed with the
highest level of professionals and precision. Now that's important because
I have heard stories of people that didn't go and
select the proper people or maybe sold, you know, tried
(03:56):
to sell jewelry to someone who was rably not authorized
to deal and they ran into some problems. You don't
want to run into problems when it's something precious. So
we're going to talk to Ed about what steps you
should take if you want to protect your valuables. Ed
welcome to Fearless Fabulous You, thank.
Speaker 2 (04:15):
You, Melanie, Thank you for having me today.
Speaker 1 (04:17):
Before I want to start, I just want to let
everybody know for full disclosure, that Ed O'Brien appraised a
lot of my jewelry that I inherited from my mother
and she did not have up to date appraisals, which
we're going to talk about, so I couldn't get anything
a prey. I couldn't get anything protected by a jew
jewelry insurance coverage program because she didn't have up to
(04:38):
date appraisals. So I found Ed through a service, I think,
and he had very high marks. So full disclosure. I
have worked with Ed, and I invited him on because
the whole thing with the fires just really shook me.
So anyway, I do recommend him. He's based in Connecticut.
Speaker 2 (04:58):
Right, Yes, I'm based in the New Haven area, but
he came.
Speaker 1 (05:02):
To New Orleans. He travels, and he came and it was great,
So Ed, welcome. I just wanted to get that, you know,
full disclosure out. So Ed, let's talk about what you
should look for in an appraiser and are there different
kinds of appraisers that you must consider?
Speaker 3 (05:21):
Okay, uh yes, I think that you have to find
an appraiser that is qualified, somebody who is knowledgeable of
market trends, somebody who has a credentials such as g
i A or National Association of Jewelry Appraisers. You really
need somebody who can look at a piece, knows how
(05:42):
it's manufactured, knows the manufacturing process, knows the you know,
replacement value in the retail value of it, and knows
what the actual costs would be should you have a loss,
you're able to have enough insurance to replace it. I
mean there are many things that do go into an appraisal,
(06:03):
such as market fluctuations, that things change all the time.
What it's worth, you know, five years ago, might not
be what is what that item is worth today. So
you really need to make sure you find somebody who
knows the industry.
Speaker 1 (06:17):
I think it's important and to under also in the
score is I learned like a lot of the appraisal.
Appraisals I had were over ten, fifteen, even twenty twenty
five years old. That didn't fly with the jewelry company.
With the I used Jewelers Mutual because it was recommended
by my renter's insurance. Because renters insurance will only cover
(06:39):
so much. Homeowners is a different ballgame. Okay, with homeowners
you can ask about jewelry coverage and art and everything else,
but renters you're a little limited. So I actually ended
up going to Jewelers Mutual, which was recommended by people
to do a whole separate insurance policy. And I want
to bring that out because they would not talk to
me until I had appraisals.
Speaker 3 (07:01):
Yeah, you should really update appraisals at least every three years.
Might recommend two years, because again, things do change. Currently
right now in the market, we're going through a phase
where lab created diamonds are very popular, so it's kind
of dropping the value of natural diamonds. So if you
have an appraisal for say one carrot time and that
(07:24):
you got ten years ago, it would not be current
market value now, and you also might be paying higher
insurance rates for that because the prices have come down
a little.
Speaker 2 (07:35):
You really should update your appraisal at least every two years.
Speaker 1 (07:41):
What is the appraisal process, what do you have to
bring to the table, and what should you expect the
appraiser to do and provide you in terms of documentation.
Speaker 3 (07:52):
Okay, all you really need to bring is the item
and the jeweler and the appraiser should inspect the diamond
or any of the stones or even the carrot of
the metal into a full inspection and then they will
determine a value that's current to today's prices in the market.
(08:15):
And you should get a detailed report itemizing all the stones,
all their clarities, their collar, the grade of each and
every individual stone in the item, whether it be a
bracelet and necklace spring, the metal, whether it's ten car
fourteen care platinum. And then you should get a detailed
(08:36):
description of the item, something that say you should have
a loss and lose that piece. You should be able
to read that narrative and replace that item and know
exactly what that item is just by reading that narrative.
Speaker 2 (08:51):
And it really has to be a detailed description of
each item.
Speaker 3 (08:55):
Pictures also should be included if whenever possible. I don't
you know, It's not always necessary, but a picture on
the appraisal is always something to look back should you
have a loss.
Speaker 1 (09:06):
I think pictures are essential and I have had. I've
worked with many appraisers. I worked with the praisers when
I lived in New York. I had appraisers in Tennessee.
When my mother would buy me jewelry. You gave me
a very detailed appraisal with photos and detailed commentary. And
I think you spent like five hours in my house.
It was great because you actually came, you were in
(09:27):
New Orleans and ended up you know, coming, and it
was really comforting because I didn't want have to take
my stuff anywhere. It was great. But I'm going to
say that even if listeners, if you choose not to
get anything appraised or not, I do recommend it. If
it's valuable, you should be taking a photo of everything
in your house where it is, whether it's on the wall,
(09:51):
on the floor, on a shelf, and a jore that
you do not want to lose, and you should create
a spreadsheet or a list because when disaster strikes, you
need to have documentation. I have done that with every
room in my house. So the photos are really important,
(10:12):
and I keep them in the cloud because obviously and
if you are evacuating, you should be able you should
have that any printouts with you. But you should keep
everything also in a cloud because if your house does
burned down, everything is gone correct and.
Speaker 3 (10:28):
That is so important too to keep the appraisal documents
somewhere where they're safe, where they're fireproof, they're waterproof. But
also keep them if you can, and ever possible, off
site of your location, because say your house.
Speaker 2 (10:43):
Burns or there is a flood or a fire, you
want to be able to get to that.
Speaker 3 (10:47):
So a safety deposit box the cloud is very uh,
it is a very good idea. I recommend that highly
also be able to you have to think ahead, like I,
should you have a loss, you have to be able
to get to that documentary.
Speaker 1 (11:01):
Well, we learned when that when unfortunately, when the Pacific
Palisades burned down, so did the banks. And it's a
bit of a mess. So because the everybody lost everything
in the safety deposit box and I learned it was
not covered by the bank. So are there do you
know of any apps or anything that deals specifically with
(11:24):
keeping your documents secure. I'm sure there are some I
don't know if of them myself, But do you know
of any that you would recommend?
Speaker 2 (11:29):
I don't.
Speaker 3 (11:30):
I don't know of any specific, but there there are
many wallets where you can keep that. Also, your insurance
company should should have a copy of it on file,
you know, should you ever need to get to it.
Speaker 1 (11:41):
Yeah, what I do is I have I have a
print out, I have a print out I have in
the cloud in my in my in my cloud, the
Microsoft cloud, and I'm probably going to find a wallet also,
And yes, you're ensure should have detail as well, right.
Speaker 3 (11:59):
And you can't have any shared unless it's in praise,
so it's kind of a catch twenty two. You have
to have it appraised here, you know, so in case
you have a loss, your insurance company will have a
copy of that.
Speaker 1 (12:09):
What kinds of things do you feel? Obviously it's really
up to the person, But do you feel really important
to have a praise right now? You actually caught me
with a lab diamond comment because I think I have
a natural diamond that probably is over a praise now
based on that, and I'm paying a hefty price tag
to have ensured. What do you what are things that
(12:32):
are examples and not just jewelry.
Speaker 3 (12:34):
Also, I think anything of value, anything at least in
the jewelry, I say anything over say a thousand dollars
fifteen hundred dollars value anything as you acquire new gifts
or new pieces. But you should also have your art
a praise. Any important and valuable art should be a praise. Collectibles,
(12:58):
there's many collectibles out there that have very high value.
They should be a praise. Should you ever have a loss,
you know, you should be insured. You know, anything that
you're going to have to down the road prove the
value of, you know, for insurance purposes to recoup any loss,
or you've.
Speaker 1 (13:16):
Been replacement right, Because there's loss and there's replacement. And
I'm going to just say it's a big difference because
insurance can cover you for loss, but in order to
have it your jewelry or your fine art or whatever covered,
it has to be a replacement value insurance policy schedule correct.
(13:37):
And I learned that when I was robbed, I didn't
have replacement. I had replacement, but I didn't I mean
I had lost, but that replacement right, And.
Speaker 3 (13:44):
That's why it's so important to have your appraisal was
updated every few years. You know you couldn't inherit a
diamond ring that you could. You know that's very high
value in replacement right now where you have it under appraise,
you know you'll never be able to replace it for
what you have and ensured for, so you have to
keep that current at current retail price.
Speaker 1 (14:05):
And you said every three years, maybe three to five.
I think it's five years. I don't know every insurance.
This is something you listeners need to discuss with your
when you're shopping around for insurance. And you know, we
all know that home insurance right now is tough. You
need to ask how do you handle fine art, jewelry
(14:26):
collectibles because every insurance is different.
Speaker 3 (14:33):
Correct, And like I said, I recommend two to three
years having everything updated. Some insurance companies will go as
far as five. But you ought to make sure you've
got that question.
Speaker 1 (14:45):
So you do know, and you're you specialize in jewelry appraisals,
do you do other kinds of appraisals?
Speaker 2 (14:53):
I do silverware, silver silver sets, that kind of stuff.
I don't do art.
Speaker 3 (15:00):
I pretty much specialize in the fine jewelry, in metals,
like serving sets, things like that.
Speaker 1 (15:07):
You know, I le've talked discussed it because I inherited silver,
and you know, the appraisals are like from when my
mother was married, which is over sixty years ago, so
and silver has fluctuated. I'm in the process of getting
all that addressed as well. And also it's not just
to protect it, to keep it and hopefully pass it
(15:28):
down or whatever, but also if you choose to sell something.
I mean I have been in what I call the
selling of my mother's items for a while and I
couldn't price anything properly. Or when I would take it
to an auction house and they would give me an estimate,
you don't know somebody's joshing with you or not, because
everybody's going to low ball you. And if you say
(15:52):
I have the appraisal, they may say, well, yeah, but
that's an appraisal for replacement. But we all know that.
You know, in wholesale it's differ. You'll get a lot
of pushback, but at least you have that appraisal. Particularly
if you're selling something, whether you're selling it yourself invaluable
or eBay or first DIBs, you can say I have
I just did this. You could say I have an
(16:13):
appraisal or an authentic letter of authentication, and that protects
you when you were selling something directly or through a
third party.
Speaker 3 (16:24):
Yeah, absolutely, especially if you're selling to an auction house
or something like that.
Speaker 2 (16:29):
You need to know the value so they don't take
advantage of you. You know, and there are a lot
of companies that do that.
Speaker 3 (16:36):
So at least you're not going to get the full
retail replacement value, but you know the cost of it.
And you're right, a letter of authenticity that's a tough
word to get out right now. That's helping the value
of selling it privately also, and.
Speaker 1 (16:54):
That's important, particularly if you don't know. And I'm going
to give some scenarios. I had a squash blossom that
couldn't find any markings on it, but I was able
to get a letter of authenticity so I could sell it. Uh,
you I learned when you came into praise of my
joy A piece two pieces I just kind of like
snubbed at and didn't think they were worth much actually
(17:15):
became worth more than I realized.
Speaker 2 (17:17):
Yeah, that quite often happens.
Speaker 1 (17:19):
Yeah, I was very surprised by that, and yet not funny.
Not funny the quote diamond earrings that my mother gave
me with great fanfare for my birthday, ended up to
be cubic circonias, which you know, my mother has passed.
But a did my mother tried to pass them off
to me as diamonds that knew they were czs or
did the store sell her czs instead of diamonds. We'll
(17:44):
never know, but I kind of cringed thinking about that,
because I would hate to know that my mother thought
she was giving me diamonds and they were CZ's. That
was a big surprise.
Speaker 3 (17:53):
Yeah, well, I mean you could take comforted it was
a dot, you know.
Speaker 1 (17:57):
But but if I had gone to a do A
or I mean a jeweler's mutual where I use and
said I have you know, or somebody that said, oh well,
just appraises for whatever, or tried to sell them, it
could have been really messy. So you know, again the
value of getting appraisals is one to protect things that
you cherish and don't want to lose, and you want
(18:18):
to make sure that if something happens, whether it's lost, stolen, damaged, displaced, whatever,
you have documentation and appraisal. But also if you go
to sell something, you know that you can you've got
a backup to say, I know this is the real
deal right.
Speaker 2 (18:38):
Right in for internity.
Speaker 3 (18:39):
You know, whether you're looking for the monetary value of
it or you want to replace it, it's it's important
to be able to have it at a level that
you can replace something.
Speaker 1 (18:50):
Yeah, it's really really important. Are there other scenarios that
my listeners should weigh in when they're working with an appraiser.
Speaker 2 (19:01):
Currently?
Speaker 3 (19:01):
Uh, I think a lot of people are going towards electronically.
Electronic is okay as long as you have the proper information.
A lot of times you don't have to travel, you know,
to have you Julia appraise. You know, the process does
not take that long it should take electronically should take
a day or two if you send it somewhere or
(19:23):
you're on site, typically about one to two weeks. It's
not really a hard process. Again, I'm doing electronically all
over the country and a lot of a lot of
people are these days. That also is accepted by many
insurance companies, So I.
Speaker 1 (19:39):
Would uh, so you would be contented by your website,
which is objewelers dot com. Ob as a boy, and
then I would upload photos that I take with my
phone onto your website and you would be able to
do the evaluation that way. I are you have to
send specific photos. I would think you'd have to send
anything as market as close up, side, yes, et cetera.
Speaker 3 (20:04):
As many photos as you can, with as much detail
as you can. If you when you're updating, it's even easier.
Just getsend a copy of the old appraisal with the
photo and then that has the information we should have
the information needed and then really just detailed like you're right,
markings front, backside.
Speaker 1 (20:24):
I think the old appraisal is important. I still have
the old appraisals. Even though I got everything, I still
keep the old appraisals and builds a cell because that
kind of tells a history of the item.
Speaker 2 (20:36):
Correct. Anything will make you right and it's important to
the appraiser.
Speaker 3 (20:42):
Also all that information should you have it, it's it's
not necessary. If you don't have it, pictures are fine,
you can go from there.
Speaker 2 (20:51):
Well.
Speaker 1 (20:51):
My advice would be if you buy something or your
gifted ask I mean every time my mother give me a
piece of jewel, I'm say, did you get praise? Because
with the piece of joey should come in appraisal. Uh,
and and and data sale because it does make a
difference when you were if that person is no longer
with you. I had to go through a lot of
(21:12):
things in my mother's estate, my grandmother's joy. We just
did it with my mother in law, and I mean
she's still alive, but we're right now doing it with
some of her boxes of jewelry. And it made keeping
that documentation is so.
Speaker 2 (21:27):
Important, it really is.
Speaker 3 (21:30):
And anything you know a receipt you can just go
from from that, that can be the documentation documentation you
send with the photos.
Speaker 2 (21:36):
Now.
Speaker 1 (21:36):
I also think it's important to clarify you were an appraiser,
so the services you provide are appraisal services. You don't well,
I don't know, so what about people who have like
I had. We had a big box of jewelry mishmash,
and we just wanted to know what what we could
just sell just get rid of. Do you do that?
Speaker 2 (21:56):
Yes? I do a thumb brokering for certain pieces.
Speaker 3 (22:00):
A lot of dealers and we can broke a jewelry,
we can buy scrap gold.
Speaker 2 (22:04):
I do a lot of that.
Speaker 1 (22:07):
I want to share an experience, so we have done
that a few times. I've done it through a jeweler.
I won't say who. I don't know if I've got
the best, but you know, I have to trust them.
But we recently did it down in New Orleans with
somebody who did a great job, and I had to
I had to giggle. It's giggle, not giggle, right, funny,
not funny. My husband went with a big thing of coins.
(22:30):
You know. I dragged him in because I'm like, we
got to get rid of these boxes. And we had
I've sorted and went through the box of his mom's
just box of jewelry and a suitcase of jewelry and
a box of coins. And we learned the coins were
all fake, which is kind of depressing. We learned that
a lot of the bits and pieces of jewelry, bits
and pieces and some that we wouldn't have, we didn't
(22:53):
see any visible markings. There was gold in them on
silver sure. And you know, so we left with a
nice wat of cash. So don't throw it away. Don't
just start giving it to donate here, there and there.
Take it to someone who can look through the bits
and pieces, and I mean bits and pieces, and some
(23:14):
of its bits and pieces or full pieces, and you
may end up whether it's through ed or someone local,
but I think it's important also to trust the person.
So I found you you had I think it's one
of those job sites. I was just looking because I
didn't know who to go to New Orleans. Everybody quotes
you all sorts of prices, which is a whole another thing.
The prices can vary very much, and it can also
(23:37):
very based on volume. But you had a lot of
recommendations and that made me feel good. And then you
also were willing to be in New Orleans. You swung through,
so it worked out great and I had a great experience.
If you live anywhere that you may not have appraisers,
you can say, go to someone who lives elsewhere and
do an online appraisal. And I would urge you not
(23:59):
to settle. And I'm going to say that because in
I won't say my formers where I used to live.
But somebody was just one of the well known, high
visibility people in the business of buying and selling gold
has just been arrested.
Speaker 2 (24:15):
Right, You do hear a lot of that. You have
to check.
Speaker 1 (24:20):
Yeah, So you need to find people that have gold reputations.
They have to be solid gold reputations. So get referrals,
ask to see examples of appraisers appraisers. It don't necessarily want.
You know, your jeweler may not be the best person
depending on who your jeweler is asked to see how
(24:42):
they appraise. Because I've had jewelers, some give me good appraisers,
some not in terms of appraisals, right.
Speaker 3 (24:48):
You have to keep in mind also, you know the
price for appraisal. A lot of people do percentages of
the value. You should really try and stay away from
that because I think that leads to the poss ability
of overinflated appraisals, you know, just.
Speaker 2 (25:04):
Shack up the price, but then you're also paying higher insurance.
Speaker 1 (25:07):
So that can be very Yes, per peace, I mean,
I'm thinking about the diamond I mean I had the
appraisal for the diamond ring. I'm now thinking I should
have had it reappraised by you because I'm concerned I'm
paying way too much. And you just brought up that
point that lab diamonds are cutting into natural diamonds, which
(25:28):
was kind of a shocking thing for me to hear
from you. So that's important too, because many people are
giving diamond engagement rings who're buying diamond tennis bracelets, and
there's a lot of diamonds circulating on the resale market
or invaluable or live auctioneers. There's a lot. In your opinion,
do you have an opinion on lab versus natural?
Speaker 3 (25:51):
Well, I think natural is probably always a better way
to go, but the price point is, you know, much higher.
Lab created diamonds are big the other the exact same
composition of a diamond just created in a lab. But
you know, the natural is probably always the better way
to go because it is the real thing. But again
(26:13):
we're we're talking probably you know, five times the price.
Speaker 1 (26:18):
So what about other stones? Are there other stones of
that are increasing in value that we should be aware of.
Speaker 2 (26:25):
Tanzanite is always, uh something that increases in value. They do.
Speaker 3 (26:30):
There are lab created gemstones also, sapphires, rubies, emeralds. They're
doing those lab created these days. They have to be
careful of that. But as far as natural stones.
Speaker 2 (26:42):
I think right now, tanzanite is something that's increasing.
Speaker 1 (26:48):
Interesting cyber tanzanite. That was my engagement ring. My engager
is tanzanite. What about gold virtine? Carrot versus eighteen carrot
versus I think you get you price the ten carret.
You said that was actually what's the difference.
Speaker 3 (27:07):
The difference is the amount of gold, the percentage of
gold versus alloys in the piece. If you're wearing a
piece every day, I would recommend fourteen care because it's
a little harder and more durable. Ten carrots even more
durable than fourteen carre the higher you go. The eighteen
carrot twenty twenty two carre is much softer, doesn't wear
(27:28):
as well, but there's a higher percentage.
Speaker 2 (27:31):
Of gold within the metal. So that's what you know.
Speaker 3 (27:35):
Carrot is the percentage of gold in the actual metal.
Speaker 1 (27:39):
So what it says gold filled, is there a value
because there is gold in it if you just want
to like get rid of it.
Speaker 3 (27:46):
Goldfield is it's very low value, so you need a
lot of it to see any any kind of you know,
substainful money.
Speaker 2 (27:52):
But yeah, there's there's gold and gold field.
Speaker 1 (27:55):
And I learned that when I went to go get
rid of stuff. I was like, wow, it's gold filled.
There's some money, you know, like you know, And I
underscore this because a lot of people just go and
do estate sales and or go to them or do
them or yard sales and declutter and they just say,
I just want to take this stuff and get rid
of it. And they need to understand. I mean, there
are a lot of companies out there that will gladly
(28:16):
buy your jewelry for a low price so they can
resell it elsewhere. See that's why it's really good. I
mean they advertise all the time in New York. And
some people just are in an emotional state where they
just want to get rid of stuff, or maybe they
just need money. Yeah, but you got to do your homework.
And I know when you need money and you just
want to get rid of something, I know how hard
(28:37):
that can be. You just want to take whatever, but
you got to do your homework.
Speaker 2 (28:40):
You got to do your homework right. And gold is
very high right now.
Speaker 3 (28:42):
So a scenario that I come across a lot is
somebody has a broken say class mind of chain.
Speaker 2 (28:49):
They'll get it replaced at a jeweler.
Speaker 3 (28:51):
You should always ask for that broken part back because
it could be valuable just that piece. The jeweler will
keep that and I'll tell you about that. You know,
go and sell it and yeah, make money. As you know,
it's kind of something you should always even little parts
are can be valuable.
Speaker 1 (29:10):
I want to just touch on that because it's also
important when you're asking a jeweler to reset something. I've
heard stories. In fact, my facialists said that when they
got the mother's diamond ring back, it wasn't a diamond
anymore in there when they gave it to a jeweler.
So you've got to be very careful about that. What
should you be doing if you're taking some jewelry into
(29:31):
get repaired.
Speaker 3 (29:33):
If it's a say it's a diamond ring or something valuable,
that's another reason why you should have an appraisal to
prove what you get back is what you gave them
when you take it in. If you don't have an appraisal,
you should really try and you know, like not like
document something on the diamond that you can point out
later or recognize later to make sure it's the same one.
Speaker 2 (29:55):
But yeah, yeah, hear horror stories like that all the
time in the industry.
Speaker 3 (30:00):
I don't know if it happens as much as everybody says,
but you know, it's something you have to be careful.
And again, an appraisal would prove what you're brought in
is what you get back.
Speaker 1 (30:11):
Well, how would you know, you'd have to take it
somewhere else to have them check it, because you're not
going to check it at the jeweler, right, So.
Speaker 2 (30:17):
You'd have to have the appraisal done friar.
Speaker 1 (30:22):
Yeah, but then when you get the ring back, you
don't know if it's the same ring. How do you know?
I mean, if it looks like you're the ring that
was appraised, how would you know that it's not authentic.
You'd have to go somewhere to have them check it again.
Speaker 2 (30:33):
Right, You have to have somebody check it again, right,
you know.
Speaker 1 (30:35):
If it's that valuable, you should, you know. I think
the point about getting the piece of broken chain back,
et cetera. I think that's so important. A lot of
people don't think about that, you know. Or if you're
getting a new setting for a ring or ear rings,
Let's say you're going from clip back to pierce or
pierce to clip back, ask for the pieces back, right exactly.
(31:00):
I think I had to do that once. I think
that that's really a great point. And what about silver,
same thing sterling versus nine two five? What are the
differences there? That?
Speaker 3 (31:10):
Again is the amount the amount of silver also in
the in the metal and you should always get that back.
Speaker 2 (31:16):
Also, going back to your point on having your.
Speaker 3 (31:20):
Your diamond switched or anything like that, you should always
look for a jeweler that can do things while you wait,
and there are a lot of them out there. Even
if you have something reset, they order the mounting, then
you come in and they'll set the stones while you
while you watch. So so if.
Speaker 1 (31:35):
You take something in this broken class, but they'll say, well,
we'll we'll call you when it's ready.
Speaker 3 (31:43):
Yeah, something as far as that, like soldering a chain
or fixing a class is, I would think that would
be fine. They aren't going to take your a little
bit of gold, I would imagine much. They're very unscrupulable.
But a diamond ring, so you have a valuable diamond
ring something you should wait for and if they tell
you that they're going to send it out or call
you in two weeks, take it somewhere else where you
(32:05):
can do it while they wait.
Speaker 2 (32:06):
And there are a lot of jewelers out there that
do do that. If they're a good jeweler, they'll be
able to do it while you wait.
Speaker 1 (32:13):
Wow, that's such a great point.
Speaker 2 (32:16):
Yeah, I like you said, I've been in the business
thirty years. I have a shop and we do everything
while you wait.
Speaker 3 (32:22):
We had cameras on the benches at one point with
big monitors so people can watch.
Speaker 1 (32:28):
Yeah, I just want to point out on Obi you
have obijewelers dot Shop as well as obijewelers dot com,
and you have jewelry for sale. You also have custom
made jewelry that you can do, you said, and other
consulting services. So that's good to know as well for
anyone shopping around. And you gotta be careful. And I'm
(32:49):
going to say, I'm sure in my life I have
made some costly mistakes because we have. As I've talked
to as I listened to you, I'm older and white
and more careful. Now I'm going to say this everyone
listening when you were in what if you were buying
jewelry or selling jewelry, take your time with it, don't
(33:11):
rush it. And I know that many people, including me,
sometimes we'll buy something in a fit of passion or
anger or whatever's emotion and it could be too good
to be true. We all go online and look, we're
all on eBay and Facebook, Marketplace and all the on
site things. You've got to be really careful. You definitely
(33:35):
have to know what you're looking for and trust where
it's coming from because it can be too good to
be true. And on the flip side, if you're selling something,
you need to make sure you have an authenticity factory.
I just recently went through this, not with jewelry, but
with a designer bag. In a designer bag had the
(33:57):
designer box and had the designer everything, and I think
I bought it at a charity auction. It was so
long ago, but I never used it, and I sold
it on eBay and the buyer's like, it's fake, and
I was like, huh, and I couldn't you know, because
then I probably bought it fake. So I just nipped
it in the buds to send it back full reef
and whatever. But the lesson I learned with it, and
(34:21):
I am taking it to the designer's store to have
them authenticate it for sure. But just there was that
one moment where she said, well, I have one just
like it and it's not the same, and I said,
I'd like to see a photo of yours before you
send mine back, because you know, immediately I'm like, are
you switching me out? So there's a lot of things,
(34:41):
and I don't know what it looks like. It came back,
it looks fine, but I am taking it to the store.
But what I learned from the experience is if you
are going to go and try to sell some of
your precious things online because you need to make money
in eBay or whatever, get necessary paperwork, take the time
(35:03):
and do it and factor it in that into the
price if there's a cost, because you don't want to
get tripped.
Speaker 2 (35:08):
Up, right. Yeah, it's so important to be educated on
what you're selling or buying.
Speaker 1 (35:15):
Yeah, do your homework and time, and also go and
look at this. You know a lot of the prices
are inflated. Uh, so go and I'm gonna say because
I learned this, you know, go to the soul section
to see what things are being sold for. There's several
There's one for subscription called Worthpoint that I recommend Live
auctioneers invaluable eBay summer subscriptions.
Speaker 3 (35:36):
Some are not.
Speaker 1 (35:38):
But do your homework to see what things are selling for,
and again, if it is a value, get an appraiser.
I do have another question. We talk about fine jewelry.
Can you appraise find vintage jewelry that may be costume,
because there's a lot of costume jewelry. Now that's actually
a value. Is there a way to appraise that or
is that another process?
Speaker 3 (35:59):
No, that's something we are praise all the time. Really, Yeah,
vintage constume jewelry we can do.
Speaker 2 (36:07):
You know a lot of that.
Speaker 3 (36:08):
The metal is a different metal, different stones, but you
have to find somebody very knowledgeable on that also.
Speaker 2 (36:14):
But that's definitely something possible and something we can handle.
Speaker 1 (36:18):
Well, that's important as well as I'm thinking about some
of the pieces I have because I ended up with
a lot of vintage jewelry and I've become self educated
in the process. But knowing that you can do vintage
jewelry as well as fine as I'm already thinking about
some pieces the next time I utilize your services that
(36:41):
because I'm seeing their market value. The resale value is
quite high.
Speaker 2 (36:47):
Yeah, some of the Turn of the century or our
Deco pieces, or.
Speaker 3 (36:51):
During the depression that was very popular, but those pieces
have become very valuable.
Speaker 1 (36:59):
I hope every everybody listening is taking all this in
because I truly believe that for people out there, particularly
if you are inheriting or cleaning out a house or
you're going to an estate sale or you're thinking about
a gig business where you're selling online. This is good
(37:20):
information to understand. There is value in many things you
have that you may not realize and you don't know
until you get someone to work with you to give
you an honest fare appraisal.
Speaker 2 (37:34):
Exactly. And if you have a gig business, if something
that can be factored right into.
Speaker 1 (37:38):
The price exactly. And I have done that, is I
factored in appraiser costs. And because I want to show
that and say I can send you if you purchase this,
you will have a copy of the appraisal. You still
have to go get a new appraisal because it's under
your name.
Speaker 3 (37:57):
But at least you have that backup, right, especially if
you're looking to ensure it. It has to be under
your name and you're you know, assured in a specific
address spot. Yeah that's very important.
Speaker 1 (38:08):
Yeah, very very important. And like I said, I have
used worked with Ed. He gave me a very detailed appraisal.
It was it was a process. I had a lot
I have. I ensure with jewelers mutual. I have no
affiliation with them. It's just that when I went to
and every state is different, Every insurance is different. Louisiana
(38:29):
is tough to get insurance, period. So I bit the
bullet and went with Jeweler's mutual because it was the
best I could do for what I had with all
this appraised jewelry. And then as I go and decided
to sell some of it, I can more confidently do
it working through an auction house or trying to resell
it myself, whatever you have ed do it for you.
(38:50):
You just you need to know when you go to
resell something, if you're having a third party do it,
You've got to find out what the costs are involved,
because there's specific costs for selling it auction, and there's
specific cost if somebody's reselling for you, and you need
to work that out in advance, and heaven writing right exactly.
(39:10):
And also if it doesn't sell, how are you gonna
pick it up? If it's you know, there's that's a
whole other topic, but it all starts with knowing what
the value is exactly. Well, and I really enjoyed talking
to you. What how can my listeners find and is
there any parting words you want to say share?
Speaker 2 (39:31):
Just that you can contact me through ob Jewelers.
Speaker 3 (39:34):
We do electronic appraisals, but like we did yours, we
also do travel throughout the country. I'm always on the road.
You know, usually specific number of pieces make that worthwhile.
But any questions, it's Obejewelers dot Com. I'm always available.
Speaker 1 (39:51):
You know, something I want to tell my listeners is
if you live in a city where you may have
some friends who have items. You know, it is a
lot for to travel, but it can make it worth
his while and you help you and your friends if
you say, look, I have a great appraiser if you
have items to be a praise, let's make a date
and let's contact him, and then it makes it worth
(40:12):
it for you to come to that market if you're
you know, sweeping through. So that's another way to do it.
And then you are helping your friends out as well
because they can come and hire ed while he's in
town if they want to do it in person. But
like you said, like you said, you can do it
online as well.
Speaker 3 (40:31):
Yeah, and there are many times we'll go to you know,
I'll go to a city where there's you know, somebody
all five items here, five items there. I'll spend a
couple of days traveling, you know, going through those clients.
So it's not like doesn't all have been one place.
Speaker 1 (40:45):
Well, You've really provided a lot of good information that
I hope will help my listeners find peace of mind
as they decide how to protect and preserve their fine
valuables as well, because we want to do that. You
want to protect your health, you want to protect your wealth,
you want to protect your loved ones, you want to
protect what you have and own. Because everything is so
(41:06):
uncertain right now. So the most certain thing you can
do is get appraisals and insurance and know where everything
is in your documentation and you're not desperately trying to
find all this in moments of chaos exactly.
Speaker 3 (41:20):
And I would like to offer anybody in California and
the fires any help.
Speaker 2 (41:24):
You know, I'm very happy to help, So just reach out.
Speaker 1 (41:27):
Yeah, my heart just breaks. I have two friends who've
lost everything. It's just really upsetting. And for all of
you in California who are suffering, my heart, our hearts
go out to you. We want to help and for everyone,
and whether it's the Carolinas and the floods, I've loved
friends and who were hit by Hurricane Helene as well.
(41:49):
I hope that if anything, this show can help you
as you rebuild your life.
Speaker 3 (41:56):
Exactly, and if I can guide anybody through the process,
just reach out and give me, give me a call,
contact me at Obijewelers dot com.
Speaker 2 (42:02):
I'd be glad to help.
Speaker 1 (42:04):
Thank you so much, Ed O'Brien, I've really enjoyed talking
with you. Thank you for helping me get through the
process as well, and I hope for everyone listening this
has been another enlightening show. I'm fearless fabulous you because
remember you have many choices in life. Please choose being
fearless and fabulous. Thank you,
Welcome to Fearless Fabulous You. I am your host, Melanie Young,
and I like to empower women like you to make
confident choices about how they choose to live and how
they choose to take care of themselves and their loved ones.
And we're going to talk about something that's topical for
so many reasons and something many of us don't think about,
(00:40):
which is protecting your valuables. We know how we want
to protect our health and our loved ones, but what
about your possessions and your valuables. And why this comes
to light so much now is that my heart simply
breaks when I hear the stories about the so many
people who have lost everything in the California wildf fires,
including family photos and memento. I was, in fact, the
(01:00):
most number one thing they talk about is losing photos
and important family mementos. There are also personal effects and
of course valuable things like art and jewelry and your silver,
and things that are often not replaceable or could be replaceable,
but you may not have the proper documentation in place
(01:22):
to make that happen. So I live in New Orleans.
It's a high hurricane zone, and I moved here in
twenty twenty four. Before that, I lived in New York
City and had two apartments, both of which were burglarized.
I actually tell people I became an official New Yorker
when I was burglarized burglarized, and I learned to have
(01:43):
like six locks on my door. What I learned from
the experience when I had Renter's insurance, because I'm big
on getting everything insured, is that I was not sufficiently
insured for my grandmother's jewelry, which I inherited, which broke
my heart because I learned from the experience that I
had not had a jewelry schedule which would have enabled
(02:05):
me to claim my insurance properly. And that really stung
and it stay with me for the rest of my
life and wherever I've lived. Whenever I have acquired a
piece of jewelry, the first thing I do is I
would get into a praiser to make sure I had
all the necessary documentation. The sad thing about the wildfires
is everybody lost everything, including their documentation. And I read
(02:26):
and heard that if your items are in a bank
vault and a safe, it doesn't mean they're covered by
the FDIC. Cringe because I used to keep all my
jewelry in a safety deposit box thinking that that was
okay and I could take it off my insurance. It's complicated,
and boy, the insurance companies are making even more so.
(02:48):
But here's the thing. If you love and value something,
protect it, keep documentation in safe place, floodproof, and have
up to date appraisers. It's so important, but we don't
think about that sometimes when we worry about the cost.
(03:09):
So we're going to talk about that today so that
you can decide what makes sense for you to protect
your beautiful things so you can pass them on to
the people you love. And so we're going to be
talking with today on Fearless, Fabulous You. Ed O'Brien he
is a certified appraiser for more than thirty years. He
trained with a Gemological Institute of America, the GIA and
(03:32):
Diamonds and Colored Stones. It's a comprehensive education to ensure
that every appraisal conducted by Ed is performed with the
highest level of professionals and precision. Now that's important because
I have heard stories of people that didn't go and
select the proper people or maybe sold, you know, tried
(03:56):
to sell jewelry to someone who was rably not authorized
to deal and they ran into some problems. You don't
want to run into problems when it's something precious. So
we're going to talk to Ed about what steps you
should take if you want to protect your valuables. Ed
welcome to Fearless Fabulous You, thank.
Speaker 2 (04:15):
You, Melanie, Thank you for having me today.
Speaker 1 (04:17):
Before I want to start, I just want to let
everybody know for full disclosure, that Ed O'Brien appraised a
lot of my jewelry that I inherited from my mother
and she did not have up to date appraisals, which
we're going to talk about, so I couldn't get anything
a prey. I couldn't get anything protected by a jew
jewelry insurance coverage program because she didn't have up to
(04:38):
date appraisals. So I found Ed through a service, I think,
and he had very high marks. So full disclosure. I
have worked with Ed, and I invited him on because
the whole thing with the fires just really shook me.
So anyway, I do recommend him. He's based in Connecticut.
Speaker 2 (04:58):
Right, Yes, I'm based in the New Haven area, but
he came.
Speaker 1 (05:02):
To New Orleans. He travels, and he came and it was great,
So Ed, welcome. I just wanted to get that, you know,
full disclosure out. So Ed, let's talk about what you
should look for in an appraiser and are there different
kinds of appraisers that you must consider?
Speaker 3 (05:21):
Okay, uh yes, I think that you have to find
an appraiser that is qualified, somebody who is knowledgeable of
market trends, somebody who has a credentials such as g
i A or National Association of Jewelry Appraisers. You really
need somebody who can look at a piece, knows how
(05:42):
it's manufactured, knows the manufacturing process, knows the you know,
replacement value in the retail value of it, and knows
what the actual costs would be should you have a loss,
you're able to have enough insurance to replace it. I
mean there are many things that do go into an appraisal,
(06:03):
such as market fluctuations, that things change all the time.
What it's worth, you know, five years ago, might not
be what is what that item is worth today. So
you really need to make sure you find somebody who
knows the industry.
Speaker 1 (06:17):
I think it's important and to under also in the
score is I learned like a lot of the appraisal.
Appraisals I had were over ten, fifteen, even twenty twenty
five years old. That didn't fly with the jewelry company.
With the I used Jewelers Mutual because it was recommended
by my renter's insurance. Because renters insurance will only cover
(06:39):
so much. Homeowners is a different ballgame. Okay, with homeowners
you can ask about jewelry coverage and art and everything else,
but renters you're a little limited. So I actually ended
up going to Jewelers Mutual, which was recommended by people
to do a whole separate insurance policy. And I want
to bring that out because they would not talk to
me until I had appraisals.
Speaker 3 (07:01):
Yeah, you should really update appraisals at least every three years.
Might recommend two years, because again, things do change. Currently
right now in the market, we're going through a phase
where lab created diamonds are very popular, so it's kind
of dropping the value of natural diamonds. So if you
have an appraisal for say one carrot time and that
(07:24):
you got ten years ago, it would not be current
market value now, and you also might be paying higher
insurance rates for that because the prices have come down
a little.
Speaker 2 (07:35):
You really should update your appraisal at least every two years.
Speaker 1 (07:41):
What is the appraisal process, what do you have to
bring to the table, and what should you expect the
appraiser to do and provide you in terms of documentation.
Speaker 3 (07:52):
Okay, all you really need to bring is the item
and the jeweler and the appraiser should inspect the diamond
or any of the stones or even the carrot of
the metal into a full inspection and then they will
determine a value that's current to today's prices in the market.
(08:15):
And you should get a detailed report itemizing all the stones,
all their clarities, their collar, the grade of each and
every individual stone in the item, whether it be a
bracelet and necklace spring, the metal, whether it's ten car
fourteen care platinum. And then you should get a detailed
(08:36):
description of the item, something that say you should have
a loss and lose that piece. You should be able
to read that narrative and replace that item and know
exactly what that item is just by reading that narrative.
Speaker 2 (08:51):
And it really has to be a detailed description of
each item.
Speaker 3 (08:55):
Pictures also should be included if whenever possible. I don't
you know, It's not always necessary, but a picture on
the appraisal is always something to look back should you
have a loss.
Speaker 1 (09:06):
I think pictures are essential and I have had. I've
worked with many appraisers. I worked with the praisers when
I lived in New York. I had appraisers in Tennessee.
When my mother would buy me jewelry. You gave me
a very detailed appraisal with photos and detailed commentary. And
I think you spent like five hours in my house.
It was great because you actually came, you were in
(09:27):
New Orleans and ended up you know, coming, and it
was really comforting because I didn't want have to take
my stuff anywhere. It was great. But I'm going to
say that even if listeners, if you choose not to
get anything appraised or not, I do recommend it. If
it's valuable, you should be taking a photo of everything
in your house where it is, whether it's on the wall,
(09:51):
on the floor, on a shelf, and a jore that
you do not want to lose, and you should create
a spreadsheet or a list because when disaster strikes, you
need to have documentation. I have done that with every
room in my house. So the photos are really important,
(10:12):
and I keep them in the cloud because obviously and
if you are evacuating, you should be able you should
have that any printouts with you. But you should keep
everything also in a cloud because if your house does
burned down, everything is gone correct and.
Speaker 3 (10:28):
That is so important too to keep the appraisal documents
somewhere where they're safe, where they're fireproof, they're waterproof. But
also keep them if you can, and ever possible, off
site of your location, because say your house.
Speaker 2 (10:43):
Burns or there is a flood or a fire, you
want to be able to get to that.
Speaker 3 (10:47):
So a safety deposit box the cloud is very uh,
it is a very good idea. I recommend that highly
also be able to you have to think ahead, like I,
should you have a loss, you have to be able
to get to that documentary.
Speaker 1 (11:01):
Well, we learned when that when unfortunately, when the Pacific
Palisades burned down, so did the banks. And it's a
bit of a mess. So because the everybody lost everything
in the safety deposit box and I learned it was
not covered by the bank. So are there do you
know of any apps or anything that deals specifically with
(11:24):
keeping your documents secure. I'm sure there are some I
don't know if of them myself, But do you know
of any that you would recommend?
Speaker 2 (11:29):
I don't.
Speaker 3 (11:30):
I don't know of any specific, but there there are
many wallets where you can keep that. Also, your insurance
company should should have a copy of it on file,
you know, should you ever need to get to it.
Speaker 1 (11:41):
Yeah, what I do is I have I have a
print out, I have a print out I have in
the cloud in my in my in my cloud, the
Microsoft cloud, and I'm probably going to find a wallet also,
And yes, you're ensure should have detail as well, right.
Speaker 3 (11:59):
And you can't have any shared unless it's in praise,
so it's kind of a catch twenty two. You have
to have it appraised here, you know, so in case
you have a loss, your insurance company will have a
copy of that.
Speaker 1 (12:09):
What kinds of things do you feel? Obviously it's really
up to the person, But do you feel really important
to have a praise right now? You actually caught me
with a lab diamond comment because I think I have
a natural diamond that probably is over a praise now
based on that, and I'm paying a hefty price tag
to have ensured. What do you what are things that
(12:32):
are examples and not just jewelry.
Speaker 3 (12:34):
Also, I think anything of value, anything at least in
the jewelry, I say anything over say a thousand dollars
fifteen hundred dollars value anything as you acquire new gifts
or new pieces. But you should also have your art
a praise. Any important and valuable art should be a praise. Collectibles,
(12:58):
there's many collectibles out there that have very high value.
They should be a praise. Should you ever have a loss,
you know, you should be insured. You know, anything that
you're going to have to down the road prove the
value of, you know, for insurance purposes to recoup any loss,
or you've.
Speaker 1 (13:16):
Been replacement right, Because there's loss and there's replacement. And
I'm going to just say it's a big difference because
insurance can cover you for loss, but in order to
have it your jewelry or your fine art or whatever covered,
it has to be a replacement value insurance policy schedule correct.
(13:37):
And I learned that when I was robbed, I didn't
have replacement. I had replacement, but I didn't I mean
I had lost, but that replacement right, And.
Speaker 3 (13:44):
That's why it's so important to have your appraisal was
updated every few years. You know you couldn't inherit a
diamond ring that you could. You know that's very high
value in replacement right now where you have it under appraise,
you know you'll never be able to replace it for
what you have and ensured for, so you have to
keep that current at current retail price.
Speaker 1 (14:05):
And you said every three years, maybe three to five.
I think it's five years. I don't know every insurance.
This is something you listeners need to discuss with your
when you're shopping around for insurance. And you know, we
all know that home insurance right now is tough. You
need to ask how do you handle fine art, jewelry
(14:26):
collectibles because every insurance is different.
Speaker 3 (14:33):
Correct, And like I said, I recommend two to three
years having everything updated. Some insurance companies will go as
far as five. But you ought to make sure you've
got that question.
Speaker 1 (14:45):
So you do know, and you're you specialize in jewelry appraisals,
do you do other kinds of appraisals?
Speaker 2 (14:53):
I do silverware, silver silver sets, that kind of stuff.
I don't do art.
Speaker 3 (15:00):
I pretty much specialize in the fine jewelry, in metals,
like serving sets, things like that.
Speaker 1 (15:07):
You know, I le've talked discussed it because I inherited silver,
and you know, the appraisals are like from when my
mother was married, which is over sixty years ago, so
and silver has fluctuated. I'm in the process of getting
all that addressed as well. And also it's not just
to protect it, to keep it and hopefully pass it
(15:28):
down or whatever, but also if you choose to sell something.
I mean I have been in what I call the
selling of my mother's items for a while and I
couldn't price anything properly. Or when I would take it
to an auction house and they would give me an estimate,
you don't know somebody's joshing with you or not, because
everybody's going to low ball you. And if you say
(15:52):
I have the appraisal, they may say, well, yeah, but
that's an appraisal for replacement. But we all know that.
You know, in wholesale it's differ. You'll get a lot
of pushback, but at least you have that appraisal. Particularly
if you're selling something, whether you're selling it yourself invaluable
or eBay or first DIBs, you can say I have
I just did this. You could say I have an
(16:13):
appraisal or an authentic letter of authentication, and that protects
you when you were selling something directly or through a
third party.
Speaker 3 (16:24):
Yeah, absolutely, especially if you're selling to an auction house
or something like that.
Speaker 2 (16:29):
You need to know the value so they don't take
advantage of you. You know, and there are a lot
of companies that do that.
Speaker 3 (16:36):
So at least you're not going to get the full
retail replacement value, but you know the cost of it.
And you're right, a letter of authenticity that's a tough
word to get out right now. That's helping the value
of selling it privately also, and.
Speaker 1 (16:54):
That's important, particularly if you don't know. And I'm going
to give some scenarios. I had a squash blossom that
couldn't find any markings on it, but I was able
to get a letter of authenticity so I could sell it. Uh,
you I learned when you came into praise of my
joy A piece two pieces I just kind of like
snubbed at and didn't think they were worth much actually
(17:15):
became worth more than I realized.
Speaker 2 (17:17):
Yeah, that quite often happens.
Speaker 1 (17:19):
Yeah, I was very surprised by that, and yet not funny.
Not funny the quote diamond earrings that my mother gave
me with great fanfare for my birthday, ended up to
be cubic circonias, which you know, my mother has passed.
But a did my mother tried to pass them off
to me as diamonds that knew they were czs or
did the store sell her czs instead of diamonds. We'll
(17:44):
never know, but I kind of cringed thinking about that,
because I would hate to know that my mother thought
she was giving me diamonds and they were CZ's. That
was a big surprise.
Speaker 3 (17:53):
Yeah, well, I mean you could take comforted it was
a dot, you know.
Speaker 1 (17:57):
But but if I had gone to a do A
or I mean a jeweler's mutual where I use and
said I have you know, or somebody that said, oh well,
just appraises for whatever, or tried to sell them, it
could have been really messy. So you know, again the
value of getting appraisals is one to protect things that
you cherish and don't want to lose, and you want
(18:18):
to make sure that if something happens, whether it's lost, stolen, damaged, displaced, whatever,
you have documentation and appraisal. But also if you go
to sell something, you know that you can you've got
a backup to say, I know this is the real
deal right.
Speaker 2 (18:38):
Right in for internity.
Speaker 3 (18:39):
You know, whether you're looking for the monetary value of
it or you want to replace it, it's it's important
to be able to have it at a level that
you can replace something.
Speaker 1 (18:50):
Yeah, it's really really important. Are there other scenarios that
my listeners should weigh in when they're working with an appraiser.
Speaker 2 (19:01):
Currently?
Speaker 3 (19:01):
Uh, I think a lot of people are going towards electronically.
Electronic is okay as long as you have the proper information.
A lot of times you don't have to travel, you know,
to have you Julia appraise. You know, the process does
not take that long it should take electronically should take
a day or two if you send it somewhere or
(19:23):
you're on site, typically about one to two weeks. It's
not really a hard process. Again, I'm doing electronically all
over the country and a lot of a lot of
people are these days. That also is accepted by many
insurance companies, So I.
Speaker 1 (19:39):
Would uh, so you would be contented by your website,
which is objewelers dot com. Ob as a boy, and
then I would upload photos that I take with my
phone onto your website and you would be able to
do the evaluation that way. I are you have to
send specific photos. I would think you'd have to send
anything as market as close up, side, yes, et cetera.
Speaker 3 (20:04):
As many photos as you can, with as much detail
as you can. If you when you're updating, it's even easier.
Just getsend a copy of the old appraisal with the
photo and then that has the information we should have
the information needed and then really just detailed like you're right,
markings front, backside.
Speaker 1 (20:24):
I think the old appraisal is important. I still have
the old appraisals. Even though I got everything, I still
keep the old appraisals and builds a cell because that
kind of tells a history of the item.
Speaker 2 (20:36):
Correct. Anything will make you right and it's important to
the appraiser.
Speaker 3 (20:42):
Also all that information should you have it, it's it's
not necessary. If you don't have it, pictures are fine,
you can go from there.
Speaker 2 (20:51):
Well.
Speaker 1 (20:51):
My advice would be if you buy something or your
gifted ask I mean every time my mother give me a
piece of jewel, I'm say, did you get praise? Because
with the piece of joey should come in appraisal. Uh,
and and and data sale because it does make a
difference when you were if that person is no longer
with you. I had to go through a lot of
(21:12):
things in my mother's estate, my grandmother's joy. We just
did it with my mother in law, and I mean
she's still alive, but we're right now doing it with
some of her boxes of jewelry. And it made keeping
that documentation is so.
Speaker 2 (21:27):
Important, it really is.
Speaker 3 (21:30):
And anything you know a receipt you can just go
from from that, that can be the documentation documentation you
send with the photos.
Speaker 2 (21:36):
Now.
Speaker 1 (21:36):
I also think it's important to clarify you were an appraiser,
so the services you provide are appraisal services. You don't well,
I don't know, so what about people who have like
I had. We had a big box of jewelry mishmash,
and we just wanted to know what what we could
just sell just get rid of. Do you do that?
Speaker 2 (21:56):
Yes? I do a thumb brokering for certain pieces.
Speaker 3 (22:00):
A lot of dealers and we can broke a jewelry,
we can buy scrap gold.
Speaker 2 (22:04):
I do a lot of that.
Speaker 1 (22:07):
I want to share an experience, so we have done
that a few times. I've done it through a jeweler.
I won't say who. I don't know if I've got
the best, but you know, I have to trust them.
But we recently did it down in New Orleans with
somebody who did a great job, and I had to
I had to giggle. It's giggle, not giggle, right, funny,
not funny. My husband went with a big thing of coins.
(22:30):
You know. I dragged him in because I'm like, we
got to get rid of these boxes. And we had
I've sorted and went through the box of his mom's
just box of jewelry and a suitcase of jewelry and
a box of coins. And we learned the coins were
all fake, which is kind of depressing. We learned that
a lot of the bits and pieces of jewelry, bits
and pieces and some that we wouldn't have, we didn't
(22:53):
see any visible markings. There was gold in them on
silver sure. And you know, so we left with a
nice wat of cash. So don't throw it away. Don't
just start giving it to donate here, there and there.
Take it to someone who can look through the bits
and pieces, and I mean bits and pieces, and some
(23:14):
of its bits and pieces or full pieces, and you
may end up whether it's through ed or someone local,
but I think it's important also to trust the person.
So I found you you had I think it's one
of those job sites. I was just looking because I
didn't know who to go to New Orleans. Everybody quotes
you all sorts of prices, which is a whole another thing.
The prices can vary very much, and it can also
(23:37):
very based on volume. But you had a lot of
recommendations and that made me feel good. And then you
also were willing to be in New Orleans. You swung through,
so it worked out great and I had a great experience.
If you live anywhere that you may not have appraisers,
you can say, go to someone who lives elsewhere and
do an online appraisal. And I would urge you not
(23:59):
to settle. And I'm going to say that because in
I won't say my formers where I used to live.
But somebody was just one of the well known, high
visibility people in the business of buying and selling gold
has just been arrested.
Speaker 2 (24:15):
Right, You do hear a lot of that. You have
to check.
Speaker 1 (24:20):
Yeah, So you need to find people that have gold reputations.
They have to be solid gold reputations. So get referrals,
ask to see examples of appraisers appraisers. It don't necessarily want.
You know, your jeweler may not be the best person
depending on who your jeweler is asked to see how
(24:42):
they appraise. Because I've had jewelers, some give me good appraisers,
some not in terms of appraisals, right.
Speaker 3 (24:48):
You have to keep in mind also, you know the
price for appraisal. A lot of people do percentages of
the value. You should really try and stay away from
that because I think that leads to the poss ability
of overinflated appraisals, you know, just.
Speaker 2 (25:04):
Shack up the price, but then you're also paying higher insurance.
Speaker 1 (25:07):
So that can be very Yes, per peace, I mean,
I'm thinking about the diamond I mean I had the
appraisal for the diamond ring. I'm now thinking I should
have had it reappraised by you because I'm concerned I'm
paying way too much. And you just brought up that
point that lab diamonds are cutting into natural diamonds, which
(25:28):
was kind of a shocking thing for me to hear
from you. So that's important too, because many people are
giving diamond engagement rings who're buying diamond tennis bracelets, and
there's a lot of diamonds circulating on the resale market
or invaluable or live auctioneers. There's a lot. In your opinion,
do you have an opinion on lab versus natural?
Speaker 3 (25:51):
Well, I think natural is probably always a better way
to go, but the price point is, you know, much higher.
Lab created diamonds are big the other the exact same
composition of a diamond just created in a lab. But
you know, the natural is probably always the better way
to go because it is the real thing. But again
(26:13):
we're we're talking probably you know, five times the price.
Speaker 1 (26:18):
So what about other stones? Are there other stones of
that are increasing in value that we should be aware of.
Speaker 2 (26:25):
Tanzanite is always, uh something that increases in value. They do.
Speaker 3 (26:30):
There are lab created gemstones also, sapphires, rubies, emeralds. They're
doing those lab created these days. They have to be
careful of that. But as far as natural stones.
Speaker 2 (26:42):
I think right now, tanzanite is something that's increasing.
Speaker 1 (26:48):
Interesting cyber tanzanite. That was my engagement ring. My engager
is tanzanite. What about gold virtine? Carrot versus eighteen carrot
versus I think you get you price the ten carret.
You said that was actually what's the difference.
Speaker 3 (27:07):
The difference is the amount of gold, the percentage of
gold versus alloys in the piece. If you're wearing a
piece every day, I would recommend fourteen care because it's
a little harder and more durable. Ten carrots even more
durable than fourteen carre the higher you go. The eighteen
carrot twenty twenty two carre is much softer, doesn't wear
(27:28):
as well, but there's a higher percentage.
Speaker 2 (27:31):
Of gold within the metal. So that's what you know.
Speaker 3 (27:35):
Carrot is the percentage of gold in the actual metal.
Speaker 1 (27:39):
So what it says gold filled, is there a value
because there is gold in it if you just want
to like get rid of it.
Speaker 3 (27:46):
Goldfield is it's very low value, so you need a
lot of it to see any any kind of you know,
substainful money.
Speaker 2 (27:52):
But yeah, there's there's gold and gold field.
Speaker 1 (27:55):
And I learned that when I went to go get
rid of stuff. I was like, wow, it's gold filled.
There's some money, you know, like you know, And I
underscore this because a lot of people just go and
do estate sales and or go to them or do
them or yard sales and declutter and they just say,
I just want to take this stuff and get rid
of it. And they need to understand. I mean, there
are a lot of companies out there that will gladly
(28:16):
buy your jewelry for a low price so they can
resell it elsewhere. See that's why it's really good. I
mean they advertise all the time in New York. And
some people just are in an emotional state where they
just want to get rid of stuff, or maybe they
just need money. Yeah, but you got to do your homework.
And I know when you need money and you just
want to get rid of something, I know how hard
(28:37):
that can be. You just want to take whatever, but
you got to do your homework.
Speaker 2 (28:40):
You got to do your homework right. And gold is
very high right now.
Speaker 3 (28:42):
So a scenario that I come across a lot is
somebody has a broken say class mind of chain.
Speaker 2 (28:49):
They'll get it replaced at a jeweler.
Speaker 3 (28:51):
You should always ask for that broken part back because
it could be valuable just that piece. The jeweler will
keep that and I'll tell you about that. You know,
go and sell it and yeah, make money. As you know,
it's kind of something you should always even little parts
are can be valuable.
Speaker 1 (29:10):
I want to just touch on that because it's also
important when you're asking a jeweler to reset something. I've
heard stories. In fact, my facialists said that when they
got the mother's diamond ring back, it wasn't a diamond
anymore in there when they gave it to a jeweler.
So you've got to be very careful about that. What
should you be doing if you're taking some jewelry into
(29:31):
get repaired.
Speaker 3 (29:33):
If it's a say it's a diamond ring or something valuable,
that's another reason why you should have an appraisal to
prove what you get back is what you gave them
when you take it in. If you don't have an appraisal,
you should really try and you know, like not like
document something on the diamond that you can point out
later or recognize later to make sure it's the same one.
Speaker 2 (29:55):
But yeah, yeah, hear horror stories like that all the
time in the industry.
Speaker 3 (30:00):
I don't know if it happens as much as everybody says,
but you know, it's something you have to be careful.
And again, an appraisal would prove what you're brought in
is what you get back.
Speaker 1 (30:11):
Well, how would you know, you'd have to take it
somewhere else to have them check it, because you're not
going to check it at the jeweler, right, So.
Speaker 2 (30:17):
You'd have to have the appraisal done friar.
Speaker 1 (30:22):
Yeah, but then when you get the ring back, you
don't know if it's the same ring. How do you know?
I mean, if it looks like you're the ring that
was appraised, how would you know that it's not authentic.
You'd have to go somewhere to have them check it again.
Speaker 2 (30:33):
Right, You have to have somebody check it again, right,
you know.
Speaker 1 (30:35):
If it's that valuable, you should, you know. I think
the point about getting the piece of broken chain back,
et cetera. I think that's so important. A lot of
people don't think about that, you know. Or if you're
getting a new setting for a ring or ear rings,
Let's say you're going from clip back to pierce or
pierce to clip back, ask for the pieces back, right exactly.
(31:00):
I think I had to do that once. I think
that that's really a great point. And what about silver,
same thing sterling versus nine two five? What are the
differences there? That?
Speaker 3 (31:10):
Again is the amount the amount of silver also in
the in the metal and you should always get that back.
Speaker 2 (31:16):
Also, going back to your point on having your.
Speaker 3 (31:20):
Your diamond switched or anything like that, you should always
look for a jeweler that can do things while you wait,
and there are a lot of them out there. Even
if you have something reset, they order the mounting, then
you come in and they'll set the stones while you
while you watch. So so if.
Speaker 1 (31:35):
You take something in this broken class, but they'll say, well,
we'll we'll call you when it's ready.
Speaker 3 (31:43):
Yeah, something as far as that, like soldering a chain
or fixing a class is, I would think that would
be fine. They aren't going to take your a little
bit of gold, I would imagine much. They're very unscrupulable.
But a diamond ring, so you have a valuable diamond
ring something you should wait for and if they tell
you that they're going to send it out or call
you in two weeks, take it somewhere else where you
(32:05):
can do it while they wait.
Speaker 2 (32:06):
And there are a lot of jewelers out there that
do do that. If they're a good jeweler, they'll be
able to do it while you wait.
Speaker 1 (32:13):
Wow, that's such a great point.
Speaker 2 (32:16):
Yeah, I like you said, I've been in the business
thirty years. I have a shop and we do everything
while you wait.
Speaker 3 (32:22):
We had cameras on the benches at one point with
big monitors so people can watch.
Speaker 1 (32:28):
Yeah, I just want to point out on Obi you
have obijewelers dot Shop as well as obijewelers dot com,
and you have jewelry for sale. You also have custom
made jewelry that you can do, you said, and other
consulting services. So that's good to know as well for
anyone shopping around. And you gotta be careful. And I'm
(32:49):
going to say, I'm sure in my life I have
made some costly mistakes because we have. As I've talked
to as I listened to you, I'm older and white
and more careful. Now I'm going to say this everyone
listening when you were in what if you were buying
jewelry or selling jewelry, take your time with it, don't
(33:11):
rush it. And I know that many people, including me,
sometimes we'll buy something in a fit of passion or
anger or whatever's emotion and it could be too good
to be true. We all go online and look, we're
all on eBay and Facebook, Marketplace and all the on
site things. You've got to be really careful. You definitely
(33:35):
have to know what you're looking for and trust where
it's coming from because it can be too good to
be true. And on the flip side, if you're selling something,
you need to make sure you have an authenticity factory.
I just recently went through this, not with jewelry, but
with a designer bag. In a designer bag had the
(33:57):
designer box and had the designer everything, and I think
I bought it at a charity auction. It was so
long ago, but I never used it, and I sold
it on eBay and the buyer's like, it's fake, and
I was like, huh, and I couldn't you know, because
then I probably bought it fake. So I just nipped
it in the buds to send it back full reef
and whatever. But the lesson I learned with it, and
(34:21):
I am taking it to the designer's store to have
them authenticate it for sure. But just there was that
one moment where she said, well, I have one just
like it and it's not the same, and I said,
I'd like to see a photo of yours before you
send mine back, because you know, immediately I'm like, are
you switching me out? So there's a lot of things,
(34:41):
and I don't know what it looks like. It came back,
it looks fine, but I am taking it to the store.
But what I learned from the experience is if you
are going to go and try to sell some of
your precious things online because you need to make money
in eBay or whatever, get necessary paperwork, take the time
(35:03):
and do it and factor it in that into the
price if there's a cost, because you don't want to
get tripped.
Speaker 2 (35:08):
Up, right. Yeah, it's so important to be educated on
what you're selling or buying.
Speaker 1 (35:15):
Yeah, do your homework and time, and also go and
look at this. You know a lot of the prices
are inflated. Uh, so go and I'm gonna say because
I learned this, you know, go to the soul section
to see what things are being sold for. There's several
There's one for subscription called Worthpoint that I recommend Live
auctioneers invaluable eBay summer subscriptions.
Speaker 3 (35:36):
Some are not.
Speaker 1 (35:38):
But do your homework to see what things are selling for,
and again, if it is a value, get an appraiser.
I do have another question. We talk about fine jewelry.
Can you appraise find vintage jewelry that may be costume,
because there's a lot of costume jewelry. Now that's actually
a value. Is there a way to appraise that or
is that another process?
Speaker 3 (35:59):
No, that's something we are praise all the time. Really, Yeah,
vintage constume jewelry we can do.
Speaker 2 (36:07):
You know a lot of that.
Speaker 3 (36:08):
The metal is a different metal, different stones, but you
have to find somebody very knowledgeable on that also.
Speaker 2 (36:14):
But that's definitely something possible and something we can handle.
Speaker 1 (36:18):
Well, that's important as well as I'm thinking about some
of the pieces I have because I ended up with
a lot of vintage jewelry and I've become self educated
in the process. But knowing that you can do vintage
jewelry as well as fine as I'm already thinking about
some pieces the next time I utilize your services that
(36:41):
because I'm seeing their market value. The resale value is
quite high.
Speaker 2 (36:47):
Yeah, some of the Turn of the century or our
Deco pieces, or.
Speaker 3 (36:51):
During the depression that was very popular, but those pieces
have become very valuable.
Speaker 1 (36:59):
I hope every everybody listening is taking all this in
because I truly believe that for people out there, particularly
if you are inheriting or cleaning out a house or
you're going to an estate sale or you're thinking about
a gig business where you're selling online. This is good
(37:20):
information to understand. There is value in many things you
have that you may not realize and you don't know
until you get someone to work with you to give
you an honest fare appraisal.
Speaker 2 (37:34):
Exactly. And if you have a gig business, if something
that can be factored right into.
Speaker 1 (37:38):
The price exactly. And I have done that, is I
factored in appraiser costs. And because I want to show
that and say I can send you if you purchase this,
you will have a copy of the appraisal. You still
have to go get a new appraisal because it's under
your name.
Speaker 3 (37:57):
But at least you have that backup, right, especially if
you're looking to ensure it. It has to be under
your name and you're you know, assured in a specific
address spot. Yeah that's very important.
Speaker 1 (38:08):
Yeah, very very important. And like I said, I have
used worked with Ed. He gave me a very detailed appraisal.
It was it was a process. I had a lot
I have. I ensure with jewelers mutual. I have no
affiliation with them. It's just that when I went to
and every state is different, Every insurance is different. Louisiana
(38:29):
is tough to get insurance, period. So I bit the
bullet and went with Jeweler's mutual because it was the
best I could do for what I had with all
this appraised jewelry. And then as I go and decided
to sell some of it, I can more confidently do
it working through an auction house or trying to resell
it myself, whatever you have ed do it for you.
(38:50):
You just you need to know when you go to
resell something, if you're having a third party do it,
You've got to find out what the costs are involved,
because there's specific costs for selling it auction, and there's
specific cost if somebody's reselling for you, and you need
to work that out in advance, and heaven writing right exactly.
(39:10):
And also if it doesn't sell, how are you gonna
pick it up? If it's you know, there's that's a
whole other topic, but it all starts with knowing what
the value is exactly. Well, and I really enjoyed talking
to you. What how can my listeners find and is
there any parting words you want to say share?
Speaker 2 (39:31):
Just that you can contact me through ob Jewelers.
Speaker 3 (39:34):
We do electronic appraisals, but like we did yours, we
also do travel throughout the country. I'm always on the road.
You know, usually specific number of pieces make that worthwhile.
But any questions, it's Obejewelers dot Com. I'm always available.
Speaker 1 (39:51):
You know, something I want to tell my listeners is
if you live in a city where you may have
some friends who have items. You know, it is a
lot for to travel, but it can make it worth
his while and you help you and your friends if
you say, look, I have a great appraiser if you
have items to be a praise, let's make a date
and let's contact him, and then it makes it worth
(40:12):
it for you to come to that market if you're
you know, sweeping through. So that's another way to do it.
And then you are helping your friends out as well
because they can come and hire ed while he's in
town if they want to do it in person. But
like you said, like you said, you can do it
online as well.
Speaker 3 (40:31):
Yeah, and there are many times we'll go to you know,
I'll go to a city where there's you know, somebody
all five items here, five items there. I'll spend a
couple of days traveling, you know, going through those clients.
So it's not like doesn't all have been one place.
Speaker 1 (40:45):
Well, You've really provided a lot of good information that
I hope will help my listeners find peace of mind
as they decide how to protect and preserve their fine
valuables as well, because we want to do that. You
want to protect your health, you want to protect your wealth,
you want to protect your loved ones, you want to
protect what you have and own. Because everything is so
(41:06):
uncertain right now. So the most certain thing you can
do is get appraisals and insurance and know where everything
is in your documentation and you're not desperately trying to
find all this in moments of chaos exactly.
Speaker 3 (41:20):
And I would like to offer anybody in California and
the fires any help.
Speaker 2 (41:24):
You know, I'm very happy to help, So just reach out.
Speaker 1 (41:27):
Yeah, my heart just breaks. I have two friends who've
lost everything. It's just really upsetting. And for all of
you in California who are suffering, my heart, our hearts
go out to you. We want to help and for everyone,
and whether it's the Carolinas and the floods, I've loved
friends and who were hit by Hurricane Helene as well.
(41:49):
I hope that if anything, this show can help you
as you rebuild your life.
Speaker 3 (41:56):
Exactly, and if I can guide anybody through the process,
just reach out and give me, give me a call,
contact me at Obijewelers dot com.
Speaker 2 (42:02):
I'd be glad to help.
Speaker 1 (42:04):
Thank you so much, Ed O'Brien, I've really enjoyed talking
with you. Thank you for helping me get through the
process as well, and I hope for everyone listening this
has been another enlightening show. I'm fearless fabulous you because
remember you have many choices in life. Please choose being
fearless and fabulous. Thank you,
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